Nektar Therapeutics (NASDAQ:NKTR) Given Buy Rating at BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on Nektar Therapeutics and set a $178 price target, implying 167.11% upside from the stock’s $66.64 opening price. The consensus analyst view is “Moderate Buy,” with an average target of $141.50.
• Nektar’s latest quarter showed an adjusted loss of $1.23 per share, better than the $1.97 loss analysts expected, while revenue of $10.13 million fell slightly short of estimates. Analysts project a full-year loss of $8.28 per share.
• Institutional investors own 75.88% of the company, with several funds increasing their stakes or initiating positions. Insiders, however, sold 6,285 shares worth about $441,146 over the past three months.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s stock had its "buy" rating restated by research analysts at BTIG Research in a report issued on Wednesday, Benzinga reports. They presently have a $178.00 price objective on the biopharmaceutical company's stock. BTIG Research's price target suggests a potential upside of 167.11% from the company's current price.

NKTR has been the subject of several other research reports. JPMorgan Chase & Co. assumed coverage on shares of Nektar Therapeutics in a research report on Friday, August 21st. They issued a "neutral" rating and a $65.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nektar Therapeutics in a research note on Friday, August 28th. TD Cowen upgraded Nektar Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. Finally, Canaccord Genuity Group initiated coverage on Nektar Therapeutics in a research report on Wednesday, July 22nd. They issued a "buy" rating and a $153.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nektar Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $141.50.

Nektar Therapeutics Stock Down 2.7%

NKTR stock opened at $66.64 on Wednesday. The stock's 50 day moving average is $71.98 and its two-hundred day moving average is $72.04. Nektar Therapeutics has a 52-week low of $33.40 and a 52-week high of $109.00. The company has a market capitalization of $2.28 billion, a PE ratio of -9.95 and a beta of 1.14.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.97) by $0.74. The company had revenue of $10.13 million during the quarter, compared to analysts' expectations of $10.43 million. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%. As a group, sell-side analysts anticipate that Nektar Therapeutics will post -8.28 EPS for the current year.

Insider Buying and Selling

In related news, CEO Howard W. Robin sold 418 shares of Nektar Therapeutics stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total transaction of $30,087.64. Following the sale, the chief executive officer directly owned 54,627 shares in the company, valued at $3,932,051.46. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Zalevsky sold 5,681 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total transaction of $397,670.00. Following the completion of the sale, the insider directly owned 9,756 shares of the company's stock, valued at $682,920. The trade was a 36.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,285 shares of company stock valued at $441,146 over the last three months. Corporate insiders own 2.50% of the company's stock.

Institutional Trading of Nektar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Seas Capital LP acquired a new position in shares of Nektar Therapeutics during the fourth quarter valued at approximately $31,506,000. Armistice Capital LLC lifted its position in Nektar Therapeutics by 122.4% in the fourth quarter. Armistice Capital LLC now owns 596,000 shares of the biopharmaceutical company's stock worth $25,199,000 after purchasing an additional 328,000 shares during the period. Sofinnova Investments Inc. boosted its stake in Nektar Therapeutics by 270.4% during the 4th quarter. Sofinnova Investments Inc. now owns 438,630 shares of the biopharmaceutical company's stock valued at $18,545,000 after purchasing an additional 320,211 shares in the last quarter. BVF Inc. IL boosted its stake in Nektar Therapeutics by 22.2% during the 4th quarter. BVF Inc. IL now owns 1,559,595 shares of the biopharmaceutical company's stock valued at $65,940,000 after purchasing an additional 283,000 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in Nektar Therapeutics during the 1st quarter valued at $19,786,000. 75.88% of the stock is currently owned by institutional investors.

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that harness the body's immune system to treat cancer and autoimmune and inflammatory diseases. The company's research is centered on cytokine biology, immune-cell regulation and its proprietary polymer-conjugation technologies, which are designed to modify therapeutic compounds and potentially improve their duration, delivery or tolerability.

Nektar's pipeline has included investigational therapies such as rezpegaldesleukin, an immune-modulating treatment being studied for autoimmune and inflammatory conditions.

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